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Has Adobe Systems (ADBE) Outpaced Other Computer and Technology Stocks This Year?

Zacks Equity Research
Updated
Is (PSEC) Outperforming Other Finance Stocks This Year?

For those looking to find strong Computer and Technology stocks, it is prudent to search for companies in the group that are outperforming their peers. Has Adobe Systems (ADBE) been one of those stocks this year? Let's take a closer look at the stock's year-to-date performance to find out.

Adobe Systems is a member of the Computer and Technology sector. This group includes 627 individual stocks and currently holds a Zacks Sector Rank of #3. The Zacks Sector Rank considers 16 different groups, measuring the average Zacks Rank of the individual stocks within the sector to gauge the strength of each group.

The Zacks Rank is a proven system that emphasizes earnings estimates and estimate revisions, highlighting a variety of stocks that are displaying the right characteristics to beat the market over the next one to three months. ADBE is currently sporting a Zacks Rank of #1 (Strong Buy).

Over the past three months, the Zacks Consensus Estimate for ADBE's full-year earnings has moved 4.86% higher. This signals that analyst sentiment is improving and the stock's earnings outlook is more positive.

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Based on the most recent data, ADBE has returned 47.40% so far this year. At the same time, Computer and Technology stocks have gained an average of 10.37%. This shows that Adobe Systems is outperforming its peers so far this year.

Looking more specifically, ADBE belongs to the Computer - Software industry, a group that includes 51 individual stocks and currently sits at #75 in the Zacks Industry Rank. On average, this group has gained an average of 22.33% so far this year, meaning that ADBE is performing better in terms of year-to-date returns.

ADBE will likely be looking to continue its solid performance, so investors interested Computer and Technology stocks should continue to pay close attention to the company.


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